Another Arrow in the Quiver of the “Less Than Honest Debtor”?

By Academy Staff

Any attorney who has practiced in the Bankruptcy arena for any length of time has encountered the concept of “converting” non-exempt assets into exempt assets. The concept is fairly clear – a person owns an asset for which there is no allowable exemption. The person, usually after meeting with bankruptcy counsel, sells or liquidates the asset, and uses the proceeds to purchase a different, fully exemptible asset. The person then files bankruptcy, claims the asset as exempt, and emerges at the end of the case with an asset the equivalent value of which would, but . . .

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Henry E. Hildebrand, III

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Critical Case Comment – Post-Petition/Pre-Conversion Equity

Henry E. Hildebrand, III

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Meet a New Trustee

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From their spring edition of The Quarterly our friends at NACTT have shared a timely piece from creditor attorney Thomas Humphries. _____________________ Thomas Humphries is an attorney with the firm of Sirote & Permutt, PC in Birmingham Alabama. Thomas represents the mortgage banking industry and various creditors in bankruptcy proceedings throughout the State of Alabama. Thomas’s practice includes the defense...

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The NACTT Emeritus Trustees

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